In first six weeks, the Laureate dominates Upper West Side luxury sales

TRD New York /
Apr.April 15, 2011 11:05 AM
The Laureate, a penthouse at the building and Shlomi Reuveni of Brown Harris Stevens Select (illustrations by Dbox)

The Stahl Organization’s the Laureate hit the market at 2150 Broadway just six weeks ago, but the Wall Street Journal has already declared the property the “top-selling new luxury condo” in Manhattan. The 20-story, Beaux-Arts project, whose three-to-seven-bedroom units range in price from $2.5 million to $11 million, has accounted for almost one-quarter of the 103 signed contracts above $4 million since sales launched there Feb. 28, according to Donna Olshan, who tracks high-end apartment sales at her residential brokerage, Olshan Realty. On average, condos at the SLCE Architects-designed building, at 76th Street, are going for $6 million, or $2,350 per square foot — twice the current average per-square-foot price of new Upper West Side condos. Stahl bought the Laureate site for around $116 million in September 2008, just as Lehman Brothers crashed and the economy fell apart. But ultimately, the project “hit the market at the right time with the right product,” said Olshan, who is not involved with sales. Shlomi Reuveni of Brown Harris Stevens Select, who is heading up the Laureate’s marketing efforts, said 31 of the building’s 70 units have sold thus far. [WSJ]


Related Articles

arrow_forward_ios
Rachel Glazer (Credit: BHS)

BHS’ top Downtown agent jumps to Compass

BHS’ top Downtown agent jumps to Compass
BHS’ chief of tech, communications out amid internal shakeup

BHS’ chief of tech, communications out amid internal shakeup

BHS’ chief of tech, communications out amid internal shakeup
Bess Freedman and Robert Reffkin (Credit: Studio Scrivo)

“Unequivocally not selling:” BHS accuses rival of stoking sale rumors

“Unequivocally not selling:” BHS accuses rival of stoking sale rumors
565 Broome Street and 35 North Moore Street (Photos via 565BroomeSoHo and Google Maps)

Manhattan sees highest number of luxury contracts signed since early March

Manhattan sees highest number of luxury contracts signed since early March
520 West 28th Street (Wikipedia)

Related asked $50M for this penthouse. It went into contract for $25M

Related asked $50M for this penthouse. It went into contract for $25M
Brown Harris Stevens CEO Bess Freedman (iStock)

BHS gives employees Election Day off

BHS gives employees Election Day off
301 East 80th Street and 27 East 79th Street

Manhattan records 10 luxury deals in week after Labor Day

Manhattan records 10 luxury deals in week after Labor Day
90 Morton Street (Photo via Streeteasy)

West Village condo has the week’s priciest two resi deals

West Village condo has the week’s priciest two resi deals
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...